Allahabad Bank had an exposure of Rs 516.79 crore to Rotomac group

 SMTV Desk 2018-02-22 02:48:31  Allahabad Bank, exposure, Rs 516.79, crore, Rotomac, group
Allahabad Bank had an exposure of Rs 516.79 crore to Rotomac group

Kolkata, Feb 22: State-run Allahabad Bank on Wednesday said it has an exposure of Rs 516.79 crore to debt-laden Rotomac group as on January end and the lender has the required provision for the same as per RBI norms.According to a regulatory filing, the bank said it has an outstanding of Rs 43.09 crore to Rotomac Exim Pvt Ltd as a sole banker, Rs 314.56 crore to Rotomac Global as multiple banking lending and Rs 159.14 crore to Rotomac Exports as a consortium arrangement with Bank of India as a lead banker.These three accounts constitute Rs 516.79 crore of outstanding exposure as on January 31, 2018.